GoldmanSachs666 Message Board

Fraud*According to the Collins English Dictionary 10th Edition fraud can be defined as: "deceit, trickery, sharp practice, or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage".[1] In the broadest sense, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g. in science, to gain prestige rather than immediate monetary gain*As defined in Wikipedia

Occupy Wall Street News

Wednesday, February 20, 2013

Goldman Sachs is all about "fiscal responsibility" for the federal government now as long as the "fiscal" does not include Goldman's finances. But there are other alternatives.

The government would be better off forgetting deficit reduction during this recession and to focus on increasing employment so that citizens can earn the money which can be spent into the economy in order to help it grow.

Or, the economy could be stimulated in the manner that Michael M. Thomas suggests in an article on Naked Capitalism; that is, distribute tax-free money to every US taxpayer so that trillions of dollars can directly support the people just as trillions of dollars have supported the banks and large corporations (with TARP, discount window borrowing, QE infinity, etc.)

Michael M. Thomas' [sic] Solution to the CrisisBy Michael M. Thomas - Naked Capitalism. . . .Institutionally, what should be done immediately is to separate the good
assets from the dubious. In the case of the “banks,” hive off depositary
operations and wealth management from trading and arbitrage. At AIG,
put a fence around the real insurance operations and let the CDS
commitments go. Wipe out derivatives contracts that had no real
third-party assets at risk (possibly as much as $30 trillion of “naked”
puts,) that were nothing more or less than bets against the solvency and
credit rating of insurers like AIG and Lehman, and let the rest
negotiate settlements as best they can. All the crap can go into what I
heard one English financial analyst on WNYC call “a giant international
cesspit,” and let the scavengers fight over it like rats in a garbage
dump. Isn’t this the kind of market solution propounded by (speaking of
rats) the likes of Larry Kudlow? . . . .

So let’s go back to the “Three Guys” scheme, as history will
doubtless christen it. At $2.5 trillion, the money’s about the same as
Washington plans to spend. Any way you cut it, relief is going to be
funded in the people’s money, so why not let the people decide how to
spend it? To some taxpayers, $25,000 will be a lot of money and will be
spent on life’s necessities or to ease household financial crises: to
pay off debts, to pay tuition, to catch up on mortgages. Others may use a
sum like this as a down payment on a house. Businesses can be launched
on $25K. To some, $25K won’t be that big a deal, so they’ll invest it or
put it into a bank. Along the way, as it passes from hand to hand, as
one person’s expenditure becomes another’s revenue and profit, it will
become taxable, and Uncle will start to recapture his investment.

It really doesn’t matter how and where it gets spent and saved,
because never forget, children, that every dollar spent is somewhere
saved. The key is to keep that money hopping. To keep breaking it up
into pieces, and moving those pieces along. If it coagulates in
financial companies anxious to build up capital to support their CDO/CDS
garbage, the main if not the entire purpose of the exercise is
defeated. And this is exactly what is happening now.

It has got to stop. Parents of my generation were raised to
understand that children are not to be rewarded for bad behaviors.
Sadly, that view has faded. It’s time to turn back the clock and give
the money to the 99,000,000 of us that had nothing to do with this mess!

GS666 #4 on TopSites List

Famous Quotes

The men the American people admire most extravagantly are the greatest liars; the men they detest most violently are those who try to tell them the truth. … H.L. Mencken

An age is called Dark not because the light fails to shine, but because people refuse to see it…James Albert Michener, novelist (1907-1997)

It is impossible to calculate the moral mischief, if I may so express it, that mental lying has produced in society. When a man has so far corrupted and prostituted the chastity of his mind as to subscribe his professional belief to things he does not believe he has prepared himself for the commission of every other crime. … Thomas Paine 1737-1809, Anglo-American Political Theorist, Writer

Laws just or unjust may govern mens actions. Tyrannies may restrain or regulate their words. The machinery of propaganda may pack their minds with falsehood and deny them truth for many generations of time. But the soul of man thus held in trance or frozen in a long night can be awakened by a spark coming from God knows where and in a moment the whole structure of lies and oppression is on trial for its life.: Sir Winston ChurchillWhen governments fear the people, there is liberty. When the people fear the government, there is tyranny. - Thomas Jefferson

When cheaters prosper, we end up with the worst possible system and to call it a free market system is an obscenity. -William BlackWhen the people fear their government, there is tyranny; when the government fears the people, there is liberty." - Thomas JeffersonI believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around the banks will deprive the people of all property - until their children wake-up homeless on the continent their fathers conquered. Thomas Jefferson - 1802

Don't be afraid to see what you see.

..................................... Ronald Reagan

When the people and the government fear Banksters like Goldman Sachs and JP Morgan, there is economic dictatorship that will destroy the very fabric of our existence as a civilized society.Mike Morgan

Let me control the money of a nation and I care not who makes its laws.Meyer Amsheil Rothschild

Together We Can Make A Difference!Larry Rubinoff*************Send your "Famous Quotes" to info@goldmansachs666.com